Regional : Follow-on Investment in OrbiMed Asia Partners IV
OAP IV will target primarily growth equity private investments in companies across the healthcare industry. A majority of these investments will focus on the continuing growth in demand for higher quality, affordable healthcare in the People's Republic of China (PRC) and India. The Fund may also selectively consider opportunistic investments in certain developing countries in Asia outside PRC and India.
Project Details
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Project Officer
Mahmud, Farshed
Private Sector Operations Department
Request for information -
Country/Economy
Regional -
Sector
- Finance
| Project Name | Follow-on Investment in OrbiMed Asia Partners IV | |||||
| Project Number | 54042-001 | |||||
| Borrower / Company | Orbimed Advisors LLC |
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| Country / Economy | Regional India China, People's Republic of |
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| Location | China - Nation-wide; India - Nation-wide | |||||
| Type or Modality of Assistance |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Partnerships Private sector development |
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| Sector / Subsector |
Finance / Infrastructure finance and investment funds Health / Health system development |
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| Gender Equity and Mainstreaming | Some gender elements | |||||
| Responsible ADB Department | Private Sector Operations Department | |||||
| Responsible ADB Division | Private Sector Investment Funds and Special Initiatives Division | |||||
| Responsible ADB Officer | Mahmud, Farshed | |||||
| Project Sponsor(s) | ||||||
| Description | OAP IV will target primarily growth equity private investments in companies across the healthcare industry. A majority of these investments will focus on the continuing growth in demand for higher quality, affordable healthcare in the People's Republic of China (PRC) and India. The Fund may also selectively consider opportunistic investments in certain developing countries in Asia outside PRC and India. | |||||
| Objectives and Scope | The fund will target investments in several healthcare sub-sectors, including biopharma, medical technology, healthcare services, diagnostics and distribution | |||||
| Linkage to Country/Regional Strategy | The investment is consistent with ADB's country partnership strategy for India, 2018-2022 and country partnership strategy for the PRC, 2016-2020, which include support for the countries' health sectors as strategic priorities. The investment in OAP IV is consistent with ADB's operational plan for health, which strongly supports private sector approaches to improve quality, affordability, and accessibility in the health sector. |
| Safeguard Categories | |
|---|---|
| Environment | FI |
| Involuntary Resettlement | FI-C |
| Indigenous Peoples | FI-C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
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| Concept Clearance | 24 Jun 2020 |
| Credit Committee Meeting | 18 Sep 2020 |
| Approval | 23 Oct 2020 |
| Last PDS Update | 23 Oct 2020 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
| Title | Document Type | Document Date |
|---|---|---|
| Follow-on Investment in OrbiMed Asia Partners IV: Report and Recommendation of the President | Reports and Recommendations of the President | Oct 2020 |
| Equity Investment in OrbiMed Asia Partners IV: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Jul 2020 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
Investment disclosure: The subprojects listed below provide a status update of OrbiMed Asia Partners IV portfolio as of 1 March 2021.
| Investment Name | Country of Investment | Sector | Background | Environment Safeguards Category | Involuntary resettlement Safeguards Category | Indigenous Peoples Safeguards Category | Status |
|---|---|---|---|---|---|---|---|
| Angitia Biopharmaceuticals (Guangzhou) Limited | People's Republic of China | Biotechnology | Angitia is a developer of innovative drugs for treatment of musculoskeletal diseases | C | C | C | Active |
| BioNova Pharmaceutical Ltd. | People's Republic of China | Biotechnology | BioNova is a developer of innovative medicines for treatment of cancer and other life-threatening diseases with high unmet medical needs in China | C | C | C | Active |
| BioShin Limited | People's Republic of China | Biotechnology | BioShin is a developer of medicines (Biohaven's portfolio) for use in the Asia-Pacific Region | C | C | C | Active |
| Shenzen Dami & Xiaomi Healthcare Technology Ltd | People's Republic of China | Healthcare Service | Dami & Xiaomi is a healthcare services provider for children suffering from Autism Spectrum Disorder (ASD) or other developmental disabilities | C | C | C | Active |
| Sichuan Good Doctor Cloud Health Technology Limited | People's Republic of China | Health technology | Sichuan Good Doctor Cloud Health provides cloud-based services including tele-medicine, nurse pracitioners, and clinical testing for primary care clinics in China | C | C | C | Active |
| ReLIA Bioengineering Co., Ltd. | People's Republic of China | Medical devices | ReLIA is a manufacturer of point-of-care tests for diagnosing cardiac and hematology conditions | C | C | C | Active |
| Zentera Therapeutics | People's Republic of China | Biotechnology | Zentera is a developer of innovative drugs for treatment of cancer in China | C | C | C | Active |
| Zhejiang Zylox Medical Device Limited | People's Republic of China | Medical devices | Zylox is a leading neurology and vascular intervention medical devices manufacturer in China | C | C | C | Active |
- The Asian Development Bank (ADB) signed a $75 million equity investment in OrbiMed Asia Partners IV, LP (OAP IV), a private equity fund managed by OrbiMed Advisors LLC (OrbiMed), to enhance....